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YOU ARE HERE: Home Spa Development and Planning Risk Management Top 10 Reasons Why Spa Businesses Fail

Top 10 Reasons Why Spa Businesses Fail
  1. Lack of management expertise
  2. Lack of vision and purpose by principles
  3. Lack of financial planning and review
  4. Over-dependence on specific individuals in the business
  5. Poor market segmentation and strategy
  6. Failure to establish or communicate company goals
  7. Lack of knowledge about the market and the competition
  8. Inadequate capitalization or lack of funds
  9. Absence of a standardized quality program
  10. Owners concentration on the technical rather than the strategic work
Article ID: 065
Created:
April 11, 2004
Modified:
July 3, 2005

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